MTN Q1 revenue rises 9.1 percent, shares jump

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MTN had sent SMS to customers informing them of USSD charges from October 21, 2019
MTN sent SMS to customers informing them of USSD charges
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MTN Group has reported a 9.1 percent jump in revenue

South African telecoms firm MTN Group reported on Thursday a 9.1 percent rise in its revenue for the quarter to the end of March, sending its shares five percent higher.

Revenue at Africa’s biggest telecoms firm increased due to growth in Nigeria and Ghana, where voice revenue expanded, the company said in a statement.



MTN said its subscribers increased by 1.9 percent quarter-on-quarter with net additions of 4.1 million, while the group’s data revenue was up by 26.9 percent.

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The group’s share price rose as much as 5.74 percent and later traded up 3.94 percent at 131 rand by 0813 GMT